Project to fill gap at the Mount
Saturday 24 July 2004
Mount Maunganui's first large industrial subdivision to be created in the past five years is about to go on the market, subject to resource consent approval.
By The Landlord
Four Auckland-based investors in Quay Land Holdings recently bought the 14.1ha block less than a kilometre from the gates of the Port of Tauranga for $16 million. It is one of the largest commercial deals in the port and beachside town, outgunning a $14.2 million sale two years ago of an industrial block in McDonald Street with seven buildings on five titles.Quay Land Holdings plans to subdivide the land into 28 industrial lots ranging from 1500sq m to 2ha on perpetual leases. It has a rail siding running almost the entire length of the site on its southern side.
"There are no other blocks in the area for subdivision, and companies wanting to expand are stymied because of land restraints," says Simon Clark, Tauranga director of Colliers International, who brokered the latest deal and the earlier McDonald Street transaction.
Read More - Opens in a new window
Commenting is closed
Property News
Return to market form
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
House Prices
No stopping Capital price rises
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Mortgages
LVR limits slow down investors
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
